I generally trade on EU, it has been just ranging from past week. Going for long term the more chances are that it would go below1.3200-.1.3100. I am currently short on EU. If you have any comments you can let me know. Thanks as always for your comments. Step

USDCAD is higher but bulls are looking tired here based on some slow and choppy price action with decreasing momentum as seen on the RSI reading. That's a very often characteristics for wave C of a zigzag that indicates a coming reversal. In our case that should be to the downside as larger trend is still down. There is also gap from Sep 16th, as well as former wave four that could react as a…

The US stocks futures and the USD did not move much during Asian session while the US Bonds found some resistance. So markets did not change much, the USD remains under pressure, despite lower commodity market and metals.

The EURUSD appears to be trapped in another tight range, a sideways move in wave B before we see a break to a new high, most likely early next week.

Traders, EURUSD just reached a new high in August, but despite some EUR strength we don't see any evidences on the larger time that would be pointing for bullish period on the EUR. With that said, we will not give up on bearish view, we just adjusted the wave count. On the 4h chart we are still tracking wave C), with sub-wave 5 in progress on the hourly chart. Divergence on MACD and Elliott Wave Count suggest that current rally is in low volume and momentum which is evidence of approaching…

The FX market and commodities are still trapped in consolidation pattern while the US stocks futures are moving higher. A lot of USD pairs are showing very clean signs of a corrective price action, so it seems that USD will depreciate in the near future which means that EUR, GBP, CHF, AUD and CAD will most-likely gain.

On the EURUSD we are tracking two wave patterns, but both corrective. We however like the first wave count; straight move up to 1.3200. Intra-day traders/scalper will…

Gold fell to a new low during Asian session with a delay reaction to strong US economic data released yesterday. Good US data means that FED is closer to tapering which is the reason for a sell-off on metals and stronger USD. EURUSD also reached new low at 1.3050 which could be wave five in 1 so corrective recovery may follow soon in wave 2 but remains unconfirmed as long as upper trend-line of a trading channel is in place. So for now pair remains in bearish mode for possible test of…

EURUSD fell sharply lower last week from 1.3415 which we believe it represents impulsive decline. As we know, impulses show direction of a trend or change in trend, so we think that EURUSD has reached a top and that pair is headed lower, minimum in three waves even if decline will be corrective. As such, we labeled first leg down as wave 1 followed by wave 2 which may already be underway. Ideally wave 2 will find resistance around 1.3250. EURUSD 4h…

EURUSD reached new highs in this week around 1.3415 from where we have seen a sharp fall yesterday , clearly in impulsive fashion. As we know, impulses show direction of a trend or change in trend, so we think that EURUSD has reached a temporary top and that pair is headed lower, minimum in three waves even if decline will be corrective. We will be tracking A-B-C legs to the downside. Pair could hit 1.3150 in the next few trading days. …

EURUSD reached new high yesterday so we assume that wave 4 is already complete and that wave 5 is underway which has room for further gains, towards 1.3500 in sessions ahead. Meanwhile 1.3318 support must hold, otherwise we would assume that top is in place. From a larger perspective we need to keep in mind that wave 4 was a triangle and that triangle always occur prior to the final move of the larger pattern, which means that current leg up will sooner or later complete a bullish…

Morning traders, USD is showing some bullish intra-day swings this morning, but at the moment it’s still hard to tell if corrections (up on EURUSD, GBPUSD, down on USDCHF,…) already finished or not. We however have few charts here that are pointing for stronger USD in this week. Firstly we will take a look at the S&P Futures where we can see sharp impulse down, followed by a slow recover which we think its corrective movement. Resistance region is near, so be aware of a reversal…

The markets are in a reversal mode since Sunday open, which has also been in our view yesterday based on our wave counts. There was no real action on the FX market in the last few sessions; prices are very slow and choppy so we think that pairs reversed into a corrections, which we also highlighted in our latest video (members only).

While the FX market was slow, traders were focused on some other markets, like stocks and precious metals. We have seen…

As per Elliott Wave Analysis, sharp impulsive reversal higher in this week suggests that AUDUSD found a temporary low and completed an ending diagonal in wave 5 with a throw-over formation. Throw-over occurs when volume is high in the fifth wave that approaches its lower trendline of the pattern, and extends slightly beneath it before reversal occurs. As such, the wave count is now pointing higher for a minimum three waves retracement back to former black wave four levels;…

We just completed our forecasts for FX Street's technical forecast and it looks like we may see a little more downward actions towards the 75.00 mark. Once we see the downward movement complete, then look for a move back up to test the 80.00 area and above.

Good luck with trading and be sure to check out our technical forecasts along with other top FX Street analysts.…